Watch out for US dollar
Igor Manukhov - Nov 13, 2023
The US dollar is approaching a historically significant level. If you need to sell some US dollars, this might be a good time to do so.
The US dollar had a pretty impressive increase lately. It now sits near a historically significant level of 1.39-1.4 CAD. As you can see from the chart below, it very rarely exceeded that level in the past (horizontal red line). Most of the time it pulled back from this important level.
If you are considering buying US dollars, you might want to hold off for now and wait a better price. If you are looking to sell some US dollars, this might be a good time to do so based on the historical evidence.